Equity group’s appetite for Le Bistrot

Livingbridge, the mid-market private equity business, has completed a £9.8m investment in French restaurant group Le Bistrot Pierre, which has sites in Harrogate, Ilkley and Sheffield.

Established as a single franchise restaurant in Nottingham in 1994 by school friends Robert Beacham and John Whitehead, Le Bistrot Pierre now operates from 14 bistrots.

A Livingbridge spokesman said: “The business is growing strongly, delivering record revenues of £18m and profits in excess of £2m in 2015, and will use the investment from Livingbridge to accelerate its restaurant roll out plans and optimise its existing estate. New restaurant openings in Birmingham and the Mumbles, Swansea are already earmarked for the first half of 2016.”

The transaction was led by Benoit Broch, Nick Holt and Oliver Mauldridge from Livingbridge. Le Bistrot Pierre was advised by Sam Fuller, Katherine Hobbs and Arthur Callaghan at Altium.